AIS.ASX: AGREEMENT TO DIVEST NORTH QUEENSLAND COPPER ASSETS

AGREEMENT TO DIVEST NORTH QUEENSLAND COPPER ASSETS

Stock	Aeris Resources Ltd (AIS.ASX)
Release Time	27 Oct 2025, 9:58 a.m.
Price Sensitive	Yes

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Aeris to Divest North Queensland Copper Assets

Key Points

'On strategy' transaction to dispose non-core assets
Purchase consideration of up to $15.5 million
Completion expected in December 2025

Full Summary

Aeris Resources Limited (ASX: AIS) has entered into a binding agreement with Dingo Minerals Pty Ltd to sell its North Queensland copper assets. The transaction aligns with Aeris' strategy to simplify its portfolio and focus on core assets. The total purchase consideration is up to $15.5 million, comprising the release of $6.5 million in environmental bonds, a cash payment of either $6 million over two tranches or $5 million on completion, and a deferred $3 million payment upon Dingo Minerals achieving commercial production. The sale is expected to complete in December 2025 and does not require shareholder approval. The tenements included in the sale agreement are EPM 15923, EPM 16174, EPM 16737, EPM 18256, EPM 26025, EPM 27544, ML 2640, EPM 16112, and ML 90241. Aeris Executive Chairman Andre Labuschagne stated that the sale is a positive step for the company and its shareholders, as the proceeds will be available for debt repayment or investment into growth projects.